Key Takeaways
- Investment bank Benchmark has launched coverage on Cantor Equity Partners II (CEPT) with a Buy recommendation and $16 price objective.
- The SPAC is preparing to combine with Securitize, a tokenization platform valued at $1.25 billion in the transaction.
- The Miami-based firm commands approximately 70% market share in U.S. asset tokenization and manages BlackRock’s $2.2 billion BUIDL fund.
- A recent partnership between the New York Stock Exchange and Securitize aims to launch a platform offering 24/7 trading for tokenized securities.
- Analysts estimate the total addressable market for real-world asset tokenization at $300 trillion globally.
At the time of the coverage initiation, CEPT shares were changing hands near $11.
Cantor Equity Partners II, Inc. Class A Ordinary Share, CEPT
Benchmark has launched coverage on Cantor Equity Partners II with a Buy recommendation, highlighting the upcoming combination with tokenization platform Securitize as a major growth driver. Mark Palmer, the covering analyst, established a $16 price objective based on Securitize achieving $178 million in revenues by year-end 2026.
Securitize provides a comprehensive infrastructure for converting real-world assets—including equities, debt instruments, and investment funds—into digital tokens on blockchain networks. Benchmark characterizes the company as an attractive “pure-play investment on tokenization.”
The deal between CEPT and Securitize was unveiled in October 2024, assigning a $1.25 billion enterprise value to the tokenization specialist. Following transaction completion, the merged entity is slated to trade on the Nasdaq exchange under the symbol SECZ.
Palmer highlighted robust revenue predictability for Securitize, noting that origination fees from asset issuers and ongoing servicing charges provide stable income channels. He emphasized that the platform’s sector-neutral approach represents a significant competitive edge.
“Securitize is really focused on providing the process behind tokenization, from origination through servicing, in a way that’s applicable to a breadth of industry verticals,” Palmer explained.
Strategic Partnerships With BlackRock and NYSE Strengthen Position
Securitize currently operates BlackRock’s BUIDL fund, the industry’s largest tokenized money-market vehicle, holding $2.2 billion in assets distributed across eight blockchain protocols including Ethereum and Solana. BlackRock also spearheaded a $47 million strategic investment in Securitize, a relationship Benchmark considers a meaningful competitive moat.
Just last week, the New York Stock Exchange and Securitize revealed plans to develop a joint infrastructure for tokenized securities with continuous trading capabilities. This collaboration positions Securitize as a central player in the modernization of American capital markets, aligning with the SEC’s “Project Crypto” framework.
According to Palmer, Securitize’s architecture offers distinctive advantages by circumventing traditional clearing systems like the DTCC. This differentiates the company from competitors such as Figure Technologies, which went public on Nasdaq in September 2025 with a narrower focus on tokenized home equity credit products.
Massive $300 Trillion Market Opportunity
Benchmark estimates the global market opportunity for tokenizing real-world assets at $300 trillion. Given Securitize’s platform-agnostic design, Palmer believes the company faces no ceiling imposed by sector-specific limitations.
“The concept here really is better and faster across the board,” Palmer told Decrypt. “It’s just a matter of time before the market begins to recognize the benefits both in terms of efficiency and settlement times.”
According to Benchmark’s research, Securitize maintains roughly 70% dominance in the U.S. tokenization sector. This commanding market position, coupled with prestigious institutional relationships, should enable the firm to expand its lead as adoption accelerates.
When Benchmark released its research report, CEPT was trading near $11 per share, representing roughly 45% upside to the analyst’s $16 price target.
